1. The ramp of learning is 2 years. You are on your own financially. If after the two years you cann't develop a sale or breakeven, you don't get a second life.
2. The successful running and growing of business takes 10 years.
3. The success rate from a lab or an idea is 10,000 to one. And many companies that started eventually fizzle or struggle or die.
4. The USPTO find that 0.01% of patents filed are actually used.
5. If your new business is a small business, then it will be a small business when it grows up.
6. An average VC sees 1000 proposals before pulling trigger on one. Don't be the 999. An average founder sees 400 VCs before getting funding.
7. A company should spend 90% work on marketing ... marketing is relationship building so others ALLOW you to sell what you build.
8. If you start a wrong business, you must keep running this wrong business.
9. An investor asks for 3x return of his investment within 1 year. Don't believe anything else he says to you.
10. A company should have first sale within 3 months ... otherwise it is called hoping.
11. Any company takes 22-24 months to gain traction. Within that period, you don't matter and no one knows.
11. Any product today takes 1 million US dollars or equivalent to be a quality item.
13. You only get rich by doing many business transactions ... go for the fat field. If you enter the wrong market, you will not grow rich but you just do this for livelihood.
There is no latent needs. There is no IPO waiting.
The only three things people need are: (1) Networking and relation; (2) Have fun. (3) Security.
The only thing business need is: Advertising.
Both will pay for some security at a discount.
Save this one.
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